Isn’t it intriguing how a piece of land can set the stage for a whole new world of opportunities? We’ve turned our attention to the recently Holland Drive GLS Site Launched site. Nestled in the heart of District 10, this prime site is teeming with potential. With its strategic location close to coveted amenities, it’s easy to envisage a thriving residential hub taking shape here.

As we peel back the layers of this enticing prospect, we’ll weigh up the market expectations, developers’ responses, and the potential impact of recent policy changes. But will the site’s charm be enough to draw in hefty bids, as we saw with the last GLS plot at Holland Road?

Let’s unravel this together with the help of URA.

Update on 20th May 2024 : This site was sold to a consortium includes CapitaLand Development holding 35%, UOL Group with 35%, Singapore Land Group at 20%, and Kheng Leong Co. with 10% for $805,390,000.00. Read the article on this sale.

Holland Drive GLS Site Details

Sales Launch Date: 27 February 2024, Tuesday
Tender Submission Date: 14 May 2024, Tuesday
Site Area : 12,388.0 m²
Maximum Gross Floor Area : 58,224 m²

Location	Holland Drive
Site Area	12,388.0 m²
Land Use Zoning / Allowable Development	Residential
Maximum Gross Floor Area	58,224 m²
Maximum Building Height ⁽¹⁾	Low-rise zone: 6 StoreysHigh-rise zone: 164 m SHD
Project Completion Period ⁽²⁾	60 months
Lease Period	99 years

Holland Drive GLS Site Details

Site Details and Development Potential

Nestled in the heart of upscale District 10, the Holland Drive Government Land Sales (GLS) site spans approximately 133,343 square feet, offering a significant development potential. We’ve observed this site could accommodate high density development, potentially hosting up to 680 housing units. This urban planning opportunity could change the landscape of the locality, reflecting the current real estate trends favoring compact, high-rise residences.

The site’s strategic location and size present a substantial investment potential for developers. It’s situated in an area known for its residential appeal, surrounded by Good Class Bungalow (GCB) areas. This means unblocked views for future inhabitants. Taking these factors into consideration, we believe this GLS site will attract significant interest, foreshadowing a promising future for District 10.

Market Expectations and Developer Response

While the Holland Drive GLS site showcases impressive development potential, it’s also crucial to consider the market expectations and how developers might respond to this opportunity. Current market trends indicate strong interest in GLS sites, and we predict a top bid between $846M and $909M.

Developer strategies might vary, with some likely to form consortiums to mitigate risk. Bids will reflect developers’ confidence in the precinct’s potential, and we expect estimates around $1,450–$1,550 psf ppr. However, market fluctuations and policy changes could impact these expectations.

Developers must balance optimism with a clear-eyed view of the risks. Their responses will be a telling indicator of the Holland Drive site’s perceived value and its role in shaping our community’s future.

Holland Drive GLS Site Launched : Location and Nearby Amenities

The Holland Drive GLS site’s strategic positioning in District 10, coupled with its proximity to key amenities, adds significant value to its development potential. It’s nestled near One Holland Village and the MRT station, providing easy access and lifestyle opportunities for future residents. Not to mention, it’s in close proximity to esteemed schools like Henry Park Primary and ACS (International), enhancing its appeal to families.

What’s more, the site is surrounded by supermarkets and local markets, satisfying daily necessities with ease. Healthcare facilities are also within a short drive, ensuring a comforting sense of security. The nearby parks promote an active, healthy lifestyle, enhancing the overall appeal. All these elements make the Holland Drive GLS site a potentially enticing investment hot-spot, brimming with opportunities.

This new project is of course right next to One Holland Village, itself a very highly successful project.

Historical Context and Developer Confidence

Often, to gauge the potential of a new site, it’s prudent to look back at the history of similar developments and the confidence developers have shown in them.

The last GLS plot in Holland Road sold for a whopping $1.213 billion in 2018, a testament to the area’s potential. However, considering current market trends, developers might respond more cautiously now.

The top bid for the Holland Drive site is expected between $846M and $909M, with estimated bids at $1,450 to $1,550 psf ppr. These figures reveal developer sentiments, reflecting their confidence in the Holland Village precinct’s potential.

This confidence stems from the site’s prime location in upscale District 10, coupled with the area’s rich amenities and connectivity.

Assessing Risks and Opportunities

In light of the historical context and developer confidence, it’s crucial for us to weigh the risks and opportunities presented by the Holland Drive GLS site. When evaluating the market, we must consider potential fluctuations and policy changes that could impact the site’s appeal.

Strategic planning is essential as the site’s prime District 10 location and high-rise development potential make it an attractive proposition. However, stamp duty hikes and the estimated land cost exceeding $1 billion necessitate careful consideration. The proximity to amenities and transport links presents a lucrative opportunity, yet the developer confidence, reflected in the estimated bids, seems cautious.

Hence, while the site offers promising prospects, the risks associated with it can’t be ignored. Still, all good locations’ condos are always welcome to Singapore investors or buyers.

Conclusion

As we wrap up our analysis, we’re invigorated by the Holland Drive GLS site’s immense potential. Its prime location and development capacity undoubtedly hold great appeal.

However, market expectations, historical context, and recent policy changes add layers of complexity. Despite potential risks, we believe savvy developers will seize this unique opportunity.

This intriguing venture reaffirms the dynamism of the property market, underscoring its capacity for resilience and innovation. Let’s watch this space closely.

If you are keen on District 10 or other new launches condo, do contact us !